Part of the Census Bureaus job is to gather extra information on all of us, including if you own, rent, or squat where you are currently living. As of this the second quarter of this year, 67% of Americans own homes, the lowest level since 2000. Out here in the West it's even more dramatic, with 61% of adults owning homes. Rental occupancy has also fallen, leaving us to ask: Where are people living? Since many people have lost homes due to foreclosure, and lost jobs and therefore had to short sell their homes, my guess is that people are living with family, friends, and renting illegally more than we have seen in decades. Many of my friends, even those with good jobs and prospering careers, continue to live cheaply and share houses and apartments. Generations within families are also co-cohabiting, either grown kids are moving home, or elderly parents are moving in with their boomer children. All of these moves are a return to a more conservative purchasing philosophy that has been lost on most Americans over the last few decades. Buying a home wasn't considered a right, it was a dream that had to be worked hard for. I for one am glad to see ownership rates settling back into a more realistic percentage of the population.
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